Ahern Reorganization Plan Confirmed by Bankruptcy Court

June 5, 2013

Ahern Rentals announced today that its second amended plan of reorganization, as amended, was confirmed by the U.S. Bankruptcy Court for the District of Nevada. The plan confirmation paves the way for Ahern Rentals’ emergence from Chapter 11 bankruptcy later this month.

Ahern Rentals entered bankruptcy protection Dec. 22, 2011, after it was unable to extend the maturity of its revolving credit facility. The company continued its business operations and substantially improved its financial condition while at the same time addressing the maturity of its term loan and second lien notes. The second lien noteholders agreed to support the plan and will receive 100 percent of their allowed claims under the plan.

Ahern Rentals’ two owners, Don Ahern and John Paul Ahern Jr., will retain 100 percent of their capital stock in the reorganized entity.

“Our operating performance continues to improve considerably due to, among other things, significant improvement in the global economy and the resulting recovery in the equipment rental market,” said Don Ahern, president and CEO of Ahern Rentals. “Ahern Rentals has made very significant progress during this process. Their dedication has been instrumental in keeping Ahern Rentals competitive during the past 60 years. Today, Ahern Rentals has built a strong foundation for continued growth, and we look forward to our final emergence from bankruptcy.”

Based in Las Vegas, Ahern Rentals is No. 6 on the RER 100. The company has 75 branches in 22 states.